Chewy Inc. (CHWY) PT Lowered to $40 at Evercore ISI

Evercore ISI analyst Mark Mahaney lowered the price target on Chewy Inc. (NYSE: CHWY) to $40.00 (from $52.00) while maintaining a Outperform rating.

The analyst commented, "We reiterate our Outperform rating but trim PT to $40 (50% upside) on CHWY following a solid In Line & Raise quarter. Revenue of $3.26B (up 8% Y/Y) and EBITDA of $162MM (5% Margin) largely met expectations, with 29.4% Gross Margin and 172K Active Customer Net Adds both coming in slightly better than the Street. FQ1 Guidance bracketed the Street, while FY26 Guidance came in cleanly above. All in, Fundamentals were positive, with Chewy maintaining a consistent 8% Y/Y revenue growth, and EBITDA Margins rising 120 bps Y/Y"

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